Brazil: Vestas obtains BNDES local content accreditation

The state-owned Banco Nacional de Desenvolvimento Econômico e Social (BNDES) has certified that Vestas complies with the FINAME II code, the set of local manufacturing requirements established by the bank for foreign manufacturers operating in Brazil. Compliance with these rules is a prerequisite set by the BNDES to have access to the bank’s special credit lines.

“Our V110-2.0 MW platform turbines are very well-suited for Brazilian wind conditions, and the FINAME II accreditation will allow Vestas’ customers to leverage BNDES’ attractive financing”, says President of Vestas Mediterranean, Marco Graziano.

Based on the local manufacturing plan agreed with BNDES in June 2014, Vestas will localise the production of its V110-2.0 MW wind turbine models as following: Aeris will produce blades; ABB will manufacture generators; and Vestas’ new factory in Aquiraz (near Fortaleza, in Ceará) will localise 70 percent of hub and nacelle manufacturing.

Vestas has been present in Brazil since 2000 and has delivered a total installed capacity of 713 MW and announced firm and unconditional orders of approximately 1 GW.  So far in 2015, Vestas has announced 286 MW in new orders. Given the planned increase in manufacturing output, Vestas expects to create hundreds of direct and indirect jobs in Brazil.